Artprice

outlook for 2015 - Seite 2

The number of museums and art centers, both public and private, is rocketing, particularly in the Asia-Pacific region and to a lesser extent in South America, the Near and Middle East, says Ehrmann. This museum industry needs works to fill its walls and spaces.

Moreover, in a context of high financial volatility, art works are an attractive investment for institutional investors, fund managers and individuals. It's a market that is becoming increasingly mature and increasingly liquid, offering yields of 10% to 15% per year for works above 100,000 euros," he says.

In the first half of 2014, the United States led the way with auctions of Fine Art (paintings, sculptures, drawings, photographs, prints) totaling $2.38 billion (EUR 1.73 billion), up 28% on the year earlier period. Their global market share reached 33.4%.

China was second with sales of $1.97 billion (EUR 1.44 bn) having posted slower growth of 6.9%. Its global market share amounted to 27.7%. The UK was dynamic with sales of $ 1.8 billion (EUR1.32 bn), up more than 25% with a global market share of 25.2%.

The art market is increasingly focused on these three countries that accounted for 86% of global art auction turnover in the first half of 2014. Far behind. France retains fourth place with sales of $284 million (EUR 207.8 million) and a market share of 3.98%.

According to Mr. Ehrmann, The excellent health of the art market is expected to continue throughout 2014 barring a major geopolitical event. Already, Artprice's leading indicators for the art market are predicting dynamic art sales growth in the United States for the second half of the year.

In China, the major sales traditionally take place in the second half. But this year says Ehrmann, there is a strong dampener from a series of anti-corruption measures introduced by President Xi Jinping. Auction sales are now highly regulated, and now require immediate settlement as well as prior evidence of the financial means to pay for works. In 2013, Thierry Ehrmann established an alliance with the Chinese conglomerate, Artron.

In 2014, the United States may even regain the number 1 position on the global art market said Mr. Ehrmann. Whatever the result, it will be close. In 2013, China was top of the market for the fourth consecutive year; but only just ahead of the United States.

Listed in Paris, Artprice.com plans to list its subsidiary Artmarket.com on the Nasdaq. The company hopes to launch its online art auction business in 2015 in the United States.